Teekay Offshore Partners (TOO) Lifted to “Equal Weight” at Morgan Stanley

Morgan Stanley upgraded shares of Teekay Offshore Partners (NYSE:TOO) from an underweight rating to an equal weight rating in a research report sent to investors on Monday, MarketBeat reports. They currently have $3.00 price objective on the shipping company’s stock.

A number of other brokerages have also weighed in on TOO. Zacks Investment Research raised Teekay Offshore Partners from a sell rating to a hold rating in a research report on Thursday, January 11th. ValuEngine raised Teekay Offshore Partners from a hold rating to a buy rating in a research report on Friday, December 1st. Finally, UBS Group reduced their price target on Teekay Offshore Partners from $3.00 to $2.75 and set a buy rating for the company in a research report on Wednesday, November 15th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Teekay Offshore Partners has a consensus rating of Buy and an average target price of $4.15.

Shares of Teekay Offshore Partners (NYSE TOO) opened at $2.50 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $1,030.00, a price-to-earnings ratio of -1.79, a price-to-earnings-growth ratio of 1.11 and a beta of 2.75. Teekay Offshore Partners has a 1 year low of $1.65 and a 1 year high of $6.16.

The business also recently declared a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, February 2nd were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Thursday, February 1st. Teekay Offshore Partners’s payout ratio is -2.86%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stockman Wealth Management Inc. bought a new position in shares of Teekay Offshore Partners in the 4th quarter worth $391,000. GSA Capital Partners LLP bought a new position in shares of Teekay Offshore Partners in the 3rd quarter worth $118,000. Virtu Financial LLC raised its position in shares of Teekay Offshore Partners by 51.4% in the 4th quarter. Virtu Financial LLC now owns 114,872 shares of the shipping company’s stock worth $271,000 after acquiring an additional 39,018 shares in the last quarter. Institutional & Family Asset Management LLC bought a new position in shares of Teekay Offshore Partners in the 3rd quarter worth $279,000. Finally, Brookfield Asset Management Inc. raised its position in shares of Teekay Offshore Partners by 273.9% in the 2nd quarter. Brookfield Asset Management Inc. now owns 175,207 shares of the shipping company’s stock worth $503,000 after acquiring an additional 128,343 shares in the last quarter. 18.87% of the stock is owned by hedge funds and other institutional investors.

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Teekay Offshore Partners Company Profile

Teekay Offshore Partners L.P. is a provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the offshore oil industry in North Sea, Brazil and the East Coast of Canada. The Company operates shuttle tankers; towage vessels; floating, production, storage and off-loading (FPSO) units; floating storage and off-take (FSO) units; units for maintenance and safety (UMS); long-distance towing and offshore installation vessels, and conventional crude oil tankers.

Analyst Recommendations for Teekay Offshore Partners (NYSE:TOO)

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